Post Utme Achievers University 2020 Accounting Question 11

Practice objective / multiple choice question 11 from the 2020 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2020 Accounting Objective / Multiple Choice
Question 11 POST_UTME_ACHIEVERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦150,000. The difference of ₦30,000 is due to a dishonored cheque of ₦20,000 and an NSF cheque of ₦10,000. What is the correct journal entry to record the NSF cheque?

Answer Options

A. Debit NSF Cheque ₹10,000, Credit Cash ₹10,000
B. Debit NSF Cheque ₹10,000, Debit Dishonoured Cheque ₹20,000
Correct Answer C. Credit NSF Cheque ₹10,000, Debit Cash ₹10,000
D. Debit NSF Cheque ₹10,000, Credit Dishonoured Cheque ₹20,000
Correct Answer
C
Correct Option:
Credit NSF Cheque ₹10,000, Debit Cash ₹10,000

About This Question

This is Post Utme Achievers University 2020 Accounting Question 11. It is one of the objective questions from the 2020 Post Utme Achievers University Accounting examination.

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